Specialized vehicle loan product particularly to cater needs of farmers for transportation of Agriculture Inputs Seeds, Manures, Fertilizers, Pesticide, Farm Labour, Farm Supervision, Transportation and Marketing of Farm Produce for their own use.

Maximum of Rs.250 lakh

Individuals Farmers, SHGs, JLGs, FPOs, Corporate farmers, Custom hiring units etc.,

Vehicles viz. Jeeps, Utility Vehicles, Trucks, Milk Van, Reefer Vans, Caged Vehicles, Refrigerated Vehicles, etc.

Rigs to drill Bore Wells, Bulldozers, Fleet of Tractors, Threshers, Combines etc., and undertake farm work for farmers on Contract basis.

Margin :-

  • 15% of the on road price of the vehicle for new vehicles (including body building cost, if the body building is done by the manufacturer).
  • 40% - in the case of second hand vehicle

Security :-

  • Primary :
    • Hypothecation of vehicle to be financed.
    • Minimum collateral requirement ranging from 25% to 50% of loan portion.

Interest :

Fees And Charges :

  • Processing fee – 0.25% of the loan amount